GALAV: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GALAV
Largest movements
- Current investments -€269,806
down €269,806 (-49.2%), from €548,858 to €279,052
- Cash +€257,159
up €257,159 (+113.6%), from €226,337 to €483,496
mainly Current investments (+€269,806) and Net result for the year (+€76,074)
- Other debts -€93,968
no longer reported in 2025 (was €93,968)
- Reserves +€50,000
up €50,000 (+31.0%), from €161,487 to €211,487
- Trade debts +€16,212
up €16,212 (+1314.5%), from €1,233 to €17,446
- Tax, wage and social debts +€14,193
up €14,193 (+63.2%), from €22,469 to €36,662
- Financial income +€33,857
up €33,857 (+163.3%), from €20,737 to €54,595
of which Non-recurring financial income: +€30,119
- Taxes +€10,140
up €10,140 (+41.8%), from €24,256 to €34,396
- Financial charges +€6,183
up €6,183 (+1555.3%), from €398 to €6,580
of which Non-recurring financial charges: +€6,163
- Staff costs +€3,781
up €3,781 (+5724.9%), from €66 to €3,847
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €805,203 | €794,988 | -€10,216 | -1.3% |
| Fixed assets | 21/28 | €25,046 | €24,801 | -€245 | -1.0% |
| Tangible fixed assets | 22/27 | €25,046 | €24,801 | -€245 | -1.0% |
| Plant, machinery and equipment | 23 | - | €9,512 | +€9,512 | |
| Furniture and vehicles | 24 | €25,046 | €15,289 | -€9,757 | -39.0% |
| Current assets | 29/58 | €780,157 | €770,187 | -€9,971 | -1.3% |
| Amounts receivable within one year | 40/41 | - | €2,870 | +€2,870 | |
| Trade receivables | 40 | - | €1,550 | +€1,550 | |
| Other amounts receivable | 41 | - | €1,319 | +€1,319 | |
| Current investments | 50/53 | €548,858 | €279,052 | -€269,806 | -49.2% |
| Cash at bank and in hand | 54/58 | €226,337 | €483,496 | +€257,159 | +113.6% |
| Deferred charges and accrued income | 490/1 | €4,962 | €4,768 | -€194 | -3.9% |
| Total equity and liabilities | 10/49 | €805,203 | €794,988 | -€10,216 | -1.3% |
| Equity | 10/15 | €687,533 | €740,880 | +€53,347 | +7.8% |
| Contributions | 10/11 | €387,600 | €387,600 | = | 0.0% |
| Reserves | 13 | €161,487 | €211,487 | +€50,000 | +31.0% |
| Distributable reserves | 133 | €161,487 | €211,487 | +€50,000 | +31.0% |
| Profit (loss) carried forward | 14 | €138,445 | €141,793 | +€3,347 | +2.4% |
| Amounts payable | 17/49 | €117,671 | €54,108 | -€63,563 | -54.0% |
| Amounts payable within one year | 42/48 | €117,671 | €54,108 | -€63,563 | -54.0% |
| Trade debts | 44 | €1,233 | €17,446 | +€16,212 | +1314.5% |
| Suppliers | 440/4 | €1,233 | €17,446 | +€16,212 | +1314.5% |
| Taxes, remuneration and social security | 45 | €22,469 | €36,662 | +€14,193 | +63.2% |
| Taxes | 450/3 | €22,469 | €36,662 | +€14,193 | +63.2% |
| Other amounts payable | 47/48 | €93,968 | - | -€93,968 | |
| Remuneration, social security and pensions | 62 | €66 | €3,847 | +€3,781 | +5724.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,476 | €8,885 | +€409 | +4.8% |
| Other operating charges | 640/8 | €1,052 | €1,356 | +€304 | +28.9% |
| Gross operating margin | 9900 | €76,440 | €76,544 | +€104 | +0.1% |
| Operating profit (loss) | 9901 | €66,846 | €62,456 | -€4,390 | -6.6% |
| Financial income | 75/76B | €20,737 | €54,595 | +€33,857 | +163.3% |
| Recurring financial income | 75 | €10,026 | €13,765 | +€3,738 | +37.3% |
| Non-recurring financial income | 76B | €10,711 | €40,830 | +€30,119 | +281.2% |
| Financial charges | 65/66B | €398 | €6,580 | +€6,183 | +1555.3% |
| Recurring financial charges | 65 | €398 | €418 | +€20 | +5.1% |
| Non-recurring financial charges | 66B | - | €6,163 | +€6,163 | |
| Profit (loss) for the period before taxes | 9903 | €87,186 | €110,470 | +€23,284 | +26.7% |
| Income taxes | 67/77 | €24,256 | €34,396 | +€10,140 | +41.8% |
| Profit (loss) for the period | 9904 | €62,930 | €76,074 | +€13,145 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,930 | €76,074 | +€13,145 | +20.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.